The PI network (PI) fell over 75% in the last three months and fell from close to $ 3 in mid -February to $ 0.73 at the end of March.
The sharp decline follows Pi Network’s first explosion of optimism to surround the launch of Maint, which launched the project into the top 20 crypto currencies with its market value. Most of Hype comes from the potential Binance list that seems to be a dream now.
Listing Pi on smaller stock exchanges such as Bitget, Mexc, Gate.io and Okx brought a temporary price action, but it did not secure a place in high -level stock exchanges such as Binance or Coinbase.
Despite PI Day Social Media Hype, which includes a widespread Binance community vote and Coinbase executives, a major list did not take place. The absence of corporate class liquidity rapidly led to a collapse with price support.
Mass coin locks and long -term locks
The optimism of the market has been further reduced due to the great opening of non -liquid pi tokens. At one point, more than 13 million coins per day have circulated and overwhelming purchasing interest rates.
Although it was reported that the lock opening rate slowed down to approximately 3.8 million per day, damaged. Early adopted, many of them had the opportunity to earn large amounts of PI mining through PI Network’s mobile application.
Meanwhile, Pi combined Network’s unusual tokenomics volatility. The majority of its users are still subject to long -term locations, and more than 62% of PI owners are reported to locked their coins for three years. This has created a after -sales after -sales aftermitting, where users are currently trying to sell all accounts to jump to restrict restrictions and made the reputation of the project even more muddy.
Fraud claims, regulatory concerns and benefit gaps
Critics continue to express concerns about PI Network’s real world benefit, lack of decentralization and transparency. Despite the allegations of using a modified star consensus protocol and a decentralized knot network of the project, third -party data reveals a extremely central confirmatory set. From billions of coins, it only confirms a handful of knot operations and reveals questions about control and governance.
The platform also encountered a harsh review of regulators and industry figures. Bybit CEO Ben Zhou called PI Network as a deception, referring to the Chinese police warnings that classified the project as a pyramid scheme. The long -standing allegations regarding financial bad management and unresolved constituent disputes dating back to 2020 continue to prevent their reputation.
With the announcement of a DAO -oriented partnership with Pidaoswap, attempts to return the narrative brought a short price impact of 7%, but the leap was short -lived. With PI’s lower and continuing to assemble skepticism, the next steps of the project will determine whether or not to win the market confidence again or enter the uncertainty.
